Myanmar announces new note, inflation fears rise

13 Sept 10:55 Key points summarised by AI

Myanmar is introducing a new 20,000 Kyat banknote, doubling the highest current denomination, ostensibly to commemorate a Buddha Park and a white elephant's birthday.
The announcement immediately sparked widespread public fears of hyperinflation and a sharp depreciation of the Kyat, with social media speculating a significant drop against the US Dollar.
The Central Bank of Myanmar attempted to quell concerns, stating the new note is commemorative, will only replace old notes, and will not impact currency volume or value, with strict exchange limits.
This development occurs as Myanmar's Kyat has steadily depreciated since the 2021 coup, pressured by sanctions, declining foreign investment, and the military government's escalating budget deficit from internal conflicts.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.